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to have a flat tariff of 10% or 20% or 30% whatever it takes to get to a zero trade deficit that doesn't introduce a lot of corruption or a lot of dangers bad policymaking because it's a very simple policy. it's just determined by an arithmetical formula and there's no opportunity for anybody to play games. one of the good things about it if you have a flat tariff, is if you had a 30% tariff on imported goods that's not enough to relocate the production of t-shirts that united states because cost is too great. it's great to relocate things like silicon wafer fabrication so would tend to relocate back to the u.s. high value capital-intensive skill intensive industries which is of course what we want to do. those are the industries that are high-quality -- high-quality into she wants to have and those are the industries that don't want to lose. i point that out just to point out that if you do get serious about protectionism, protectionism has a logic to it which if you understand what that logic is, i think it would be possible for the u.s. to make a winner out of this. whether we shoul
and to think it gain access. [inaud last year, and i think, and if you look at this, we have, for every deficit, for every level of deficit, it's the -- [inaudible] we have witnessed the difference in the labor costs between different member states. [iudible increase and going down, slowly, but going down, not increasing. greece as risen up in the last quarter, this last year. they made a lot of process in reducing deficit as well. therefore, we are regaining confidence. if you look at markets, markets are very -- gained a lot of confidence, and bonds for all all the members areding italy, below. there used to be -- that's what they say. what we are doing now is the next step of ing abaning union. , we healady a great great -- you need strong european region of banks because our banking's cannot influence one member stating but several. we need the european -- the european -- been commended, implement of supervisory, things into coming weeks, has been already decide thed. we will build -- we have european, i think, relation on insurance. we have european regulation, just not yet decided, and th
deficit at or close to $1 trillion for five straight years. millions of americans are out of work or living in poverty. the highest rates we have seen in a generation. the administration's response seems to be more of the same. more spending higher taxes and record debt. what we can't keep spending money we don't have. we need a new approach. we need an approach that encourages economic growth. the longer we delay fundamental reform. the longer we delay a real recovery. our national debt is weighing down our country like an anchor. it's weighing down our economy. it's making it harder for us to get ahead. the administration claims that if we approve the budget we'll have reduced deficit by 4.3 trillion. this is not true. i want to break it down and they'll show me how. the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out
the nation, fiscal deficits cut three percentage gdp became more indebted. similarly per world countries, difficult to turn themselves around. fiscal surpluses. the country in particular the one that really, in 2008 to baggage in the coming out of this record new, two dozen seven, experiencing developing commodity prices. the finance minister, to spend and give it back to the people. resisted the pressure. they said to know, this money is for a rainy day. kent, of course, you know the rest of the story, the financial crisis. the deaths of the financial crisis, billions of dollars that allowed it to have a $4 billion tax growth. that is exactly. fiscal policy. hanson grasshoppers. that is discipline. clarity. the clarity, want to tell you the story. not jamaica, but the tiny elephant. in 1992 barbados faced an enormous financial interest, a potential financial crisis. the u.s., heavily dependent. the exports the rest of the world. in barbados dementia national monetary fund. barbados had what's cled a face to exchange is case the billion dollars. the country command the same way the value
legislation reducing the deficit by $1.2 trillion is required by the budget control act. as a result of that the dod funding for fy2013 was reduced by sequestration and the amount of $41 billion unless congress acts, the fy2014 dod budget will be cut by an additional $52 billion below the funding level which is in the president's budget for fy2014 and also the budget passed by the house and senate of representatives. weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military
. that means we're using deficit and regaining increasing competitiveness. becae a lo member states underestimated in the first years of the common currency that the pressure on competitiveness in the common currency resulted possibility of devaluation. it's huge. and if you don't improve your competitiveness, you will get major problems. it has happened in -- you will not feel it in the first years, but it will happen. and it did. therefore, we always have to -- [inaudible] member states, oblige member states to stick to european rules in, of course, a balanced way to enhance their competitiveness by structure reforms, and then we can, we have built a european mechanism through different systems to buy time until they regain access to financial markets. this worked in ireland, in portugal. in fact, in the last year we increase, by the way. i think it will work in cyprus as well. and if you look at the -- [inaudible] we have halved the national deficits in the eurozone in the last three years. delivering our commitment, by the way. we have halfved the difference in the -- halved the
. thank you for reminding me again. look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding $12.db $2.5 trillion head by the total public. .. >> future years covered by the budget control act. will we continue to see budget that is ignore provisions, ignore the sequester provisions? can you expect budgets like that to be sent to congress that don't reflect the law? secretary hagel? >> the fy15 budget we'll present
-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration has already affected military readiness. we have heard test
-inflicted wounds without adding one penny to the deficit. we've provided money, the money is there, we haven't spent it, we don't need to. we can use the savings from wrapping up two wars to avoid the full brunt of the sequester's arbitrary cuts. the congressional budget office said that would score; that money is available, it is money we could use. funding for the operation in ir a afgan has in alled overseas contin yeype account. since the worst of the seq cuts are creating an emergency situation, we should consider using thighs funds to offset their impact. these really are emergencies and we should do it. i am not proposing we use them to offset the entire sequester but congress has the power to avert the most painful sequester cuts using these mexico. 28 republicans in the senate and 174 republicans in the house would impose these sequester haphazard cuts. if those same republicans work with democrats, we could act to protect families and businesses and ensure our national defense and save millions of americans hours waiting at the airport. i suggest the absence of a quorum. the presi
the sided search for a piece deficit that i don't think exists. we went to that in the '90s. to undermine the readiness and capabilities to get the arsenal and they are expanding. we should be expanding hours. but to have a significant impact of the capabilities to reach the intelligence community just in time when we need it the most. to be asked about the effects of sequestration of the intelligence community and i have quoted you several times on this and it is very profound. olmec we're cutting real capability and accepting greater risk for intelligence shorter hours for public parks or longer lines at the airports for intelligence it is insidious. the capability you don't know about that until you notice that. you'll notice ny when we have the same" end quote. and i think that is the belief and the reasonthat is in the military is super bear to deal with threats around the world has the intelligence community uses capability.we are making us lese and i look to our witnesses how the current budget cuts accurately assess these threats especially those separate from resources. such talk
today to address three issues. number one, the economic deficit of less skilled immigration. the u.s. work force is changing american family is having fewer children and birthrates are now well below levels. 10,000 baby boomers are retiring every day. and the lush and her workers coming behind them are much more educated than their parents. in 196064% of american workers were high-school dropouts. today the number is less than 10%. together these three factors have had a dramatic effect on the pool of americans available to fill low-skill jobs. it is no accident that my members are constantly complaining about the difficulty finding workers. the pool have to draw on a shrinking. for those seeking higher, unskilled man of prime working age the supply of u.s. workers is literally half the size it was in 1970. if a thing, demand is growing. in $0.195,525 of every dollar spent on food was spent in a restaurant. today it is $0.50. one of the fastest growing occupations in america is some help aid. many less skilled immigrant workers and only then increasingly in years ahead. aside from
Search Results 0 to 10 of about 11